Finance committee of NA moves “at supersonic speed” to approve 6,000 acres for developers while barring courts from legal disputes.
Key Takeaways
• Free Land Leases: Developers can now secure up to 1,000 acres of state land on lease without any upfront charges.
• Judicial Bar: The bill creates a special tribunal, preventing regular courts from hearing commercial disputes in SEZs.
• IMF Constraints: With tax holidays ending by 2035 due to IMF terms, the government is using land as a primary incentive.
Islamabad, Pakistan – In a move that has sparked intense debate over state assets, the National Assembly Standing Committee on Finance has fast-tracked the Special Economic Zones (SEZ) Amendment Act 2026. A news story published by Express Tribune reveals that the committee, chaired by Syed Naveed Qamar, approved the bill without a clause-by-clause discussion, effectively clearing the way for 6,000 acres of state land in Karachi to be leased to private developers free of cost.
Federal Minister for Investment Qaiser Sheikh confirmed that under the new law, individual developers could be allotted up to 1,000 acres on lease. A particularly striking feature of the amendment is the establishment of a specialized tribunal with exclusive jurisdiction, effectively barring ordinary courts from taking cognisance of commercial legal disputes related to these zones.
The government is offering thousands of acres for free, yet the judicial oversight for these zones is being moved behind closed doors.
The legislation also mandates the creation of a Federal SEZ Authority for Islamabad and other federally managed territories. While the government maintains this will not infringe on provincial rights, the “supersonic speed” of the approval has raised eyebrows. Atiq ur Rehman, a joint secretary from the Special Investment Facilitation Council (SIFC), noted during the session that the $7 billion IMF program has already curbed Pakistan’s ability to offer traditional tax incentives, making land concessions one of the few remaining “carrots” for investors.
With IMF-mandated tax sunsets approaching in 2035, the rush to lease land reflects a desperate push to secure investment at any cost.
Under the new terms, the government will also bear the expense of providing essential utilities, including electricity, gas, and telecommunications, up to the “zero point” of these zones within one year of their establishment.
